Fobi AI Inc V.FOBI

They did it all a$$ backwards

[frankjosephjr1]

When you look at American stocks that are in need of cash, they usually have a promotor to pump up the share price and therefore the company sells shares in the open market at the inflated stock price. Then by evening after the market close or the next morning before market open they put out an S-1 (shelf offering). The shares always drop usually around 50% below the offering.
For example take VIRI on the NASDAQ---it was a 9 dollar stock....the next morning it did an offering at 50 cents. Now what does that say about a company who can only get an offering at that price????

Will FOBI drop to say below 5 cents??? Maybe. Either way it is not good for shareholders which are now bagholders and are tied to either selling at a worse loss or holding and hoping that management can actually get it together. Which does not seem to be the case.......????  Given the share price performance....
For FOBI who decided to do an offering at near all time lows is really concerning. But they just keep going back to the well and rinse and repeat and screw shareholders.

So what is next.....
-Another offering?
-To be booted off the venture exchange?
-To be added to the CSE?
-To finally capitulate to bankruptcy?

Listening to the last podcast Robbie comes off like a knight in shining armour saying a lot of wishful dreams that have yet to materialize that are turning into a nightmare(s) right before your eyes, and his comments/actions now (with this latest offering) have his credibility in question.
A stock promotor / pump and dump would have done a better job in the interest of shareholders. It did in the past.....

[JohnRossie]

But Robbie keeps saying he has been working 18 hours a day lol. 

[frankjosephjr1]

18 hours a day selling snow to eskimos.....Robbie is a good talker.... all while dipping into "the well of plenty" once again. There will be a day when he can't afford to buy a longer rope to reach the "water"